Saying that it "reorders the way they do business in Washington by reinventing the tax code and restoring our nation to fiscal health through balanced budgets and entitlement reform," Texas Gov. Rick Perry is this hour unveiling his "cut, balance and grow plan" on taxes.

In a speech he's giving in Greenville, S.C., (prepared text here), the Republican presidential contender is saying that "central to my plan is giving every American the option of throwing out the three million words of the current tax code, and the costs of complying with that code, in order to pay a 20 percent flat tax on their income."